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Saturday, May 22, 2010

Prices continue to drop
Numbers so far show another drop coming Thursday

Just a short update before you hit the ponds today!..

After this weeks market activity, spot prices kept sliding along with the price of crude oil. Oil closed at $67.74 US a barrel. There's some trouble coming with the provinces treasury if this trend keeps up...

Five days of data out of seven days so far show the following for Thursday coming:

Heating and stove oils are down by 2.80 cents per litre.

Diesel is showing down by 3.1 cents a litre, and ...

Gasoline is down by 3.3 cents per litre.

If oil prices stay steady, or drop further come Monday and again on Tuesday, you can expect these type of price drops for Thursday coming.

Most of these numbers are a reflection of the slide in the Euro from last week that continues to play havoc in the world markets. In return, the problems in Europe are casting a lot of doubts about any continuing economic recovery.

I wonder is this the real start of the slide I was predicting a few weeks back in the Telegram and on the blog here?


George Murphy
Consumer Group for Fair Gas Prices

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